@GenZFuturesTrader,
You might find the following info useful in helping to pinpoint a turning point or reversal in price. I took a snapshot of your top chart in your post #16. I made annotations on it.
All session long price is probing. Looking for areas of more transactions. Bullish and bearish pressures at play. It goes up for a bit then goes down. Then back up. This is done in waves or back and forth motion. Like the waves in an ocean as they hit the beach Not all waves are equal in height and in the distance they travel inland. In the markets volatility affects the height of a wave thus the distance price travels. Markets cannot go straight up and down without respite. There is a way to sort of calculate (in a graphical manner) were a wave will likely end and where the undertow pulls it back into the ocean. In the markets this undertow is seen as a reversal in price.
Look at the snapshot of your chart. The broad yellow is a tracing of the waves on your chart. Actually it is a composite of several waves on differing TF’s, because the market are complex and composed of many waves (no noise) ROFLMAO. The gurus are wrong on the noise thing. LOL
But your chart shows how the composite wave looks on the TF that your chart reflects, factoring in all of the minor smaller waves too. Together they draw your chart.
Take the first opportunity label #1. There is a move up (blue trend line). Then I look to the left and see a
significant previous high and draw a horizontal line. The two lines converge and form a triangle. At the point of their intersection is the most likely place the bar will appear that will start a reversal. That in itself doesn’t tell you which direction price will go next. Up or down. It only tells you WHEN price will likely change. It the timing factor. That is, on “which bar” the reversal will start.
So we got the “when”. Now we need to know “direction”. The way to do that is look at the last direction before the target bar shows up. Is that direction down? Then the reversal direction should be up. The red arrow line shows the last direction. The idea is to get in on the low or as close to the low as possible, of the target reversal bar, AS that bar is forming. In this first case the reversal bar was a doji (purple arrow points to it). The blue E is below the bar signifying it is the bar (reversal bar) and the bar to make the entry on. The blue dot is the long entry in the lower part of the reversal bar. Why long? Because the previous move was down (red arrow). The broad green line depicts the profitable move up after the entry was made.
Check it out! It ain’t perfect but is a tool to help pinpoint “timing”. To help a trader pinpoint on what bar a price change is likely to take place on. The triangle is drawn in before the target bar appears live on the chart. If this interest you I can show some more entries on your same chart.
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